Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) Share Price Passes Above 200 Day Moving Average – Here’s Why

Embraer-Empresa Brasileira de Aeronautica (NYSE:EMBJ) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $64.14 and traded as high as $72.05. Embraer-Empresa Brasileira de Aeronautica shares last traded at $71.55, with a volume of 443,897 shares.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on shares of Embraer-Empresa Brasileira de Aeronautica from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Embraer-Empresa Brasileira de Aeronautica has a consensus rating of “Moderate Buy” and a consensus price target of $63.86.

Embraer-Empresa Brasileira de Aeronautica Trading Up 0.7%

The company has a market capitalization of $13.14 billion, a P/E ratio of 41.60, a PEG ratio of 1.63 and a beta of 1.59. The business has a 50 day moving average price of $70.15 and a 200 day moving average price of $64.14. The company has a current ratio of 1.43, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55.

Embraer-Empresa Brasileira de Aeronautica announced that its Board of Directors has approved a stock buyback plan on Thursday, November 6th that permits the company to repurchase 0 shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Embraer-Empresa Brasileira de Aeronautica

A number of large investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. raised its stake in Embraer-Empresa Brasileira de Aeronautica by 22.7% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,172,217 shares of the aerospace company’s stock worth $66,711,000 after buying an additional 217,015 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Embraer-Empresa Brasileira de Aeronautica by 20.7% in the third quarter. Ameriprise Financial Inc. now owns 970,129 shares of the aerospace company’s stock worth $58,644,000 after acquiring an additional 166,489 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Embraer-Empresa Brasileira de Aeronautica in the fourth quarter worth about $28,696,000. Russell Investments Group Ltd. acquired a new stake in shares of Embraer-Empresa Brasileira de Aeronautica during the fourth quarter worth about $21,288,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Embraer-Empresa Brasileira de Aeronautica during the 2nd quarter valued at about $11,046,000. Institutional investors own 34.65% of the company’s stock.

Embraer-Empresa Brasileira de Aeronautica Company Profile

Embraer SA (NYSE:EMBJ), legally known as Embraer – Empresa Brasileira de Aeronáutica SA, is a global aerospace company headquartered in São José dos Campos, Brazil. The company designs, develops, manufactures and sells commercial, executive, defence and agricultural aircraft. Embraer’s product portfolio includes the popular E-Jets family for regional and short-haul carriers, the advanced E2 series, a range of business jets under the Phenom, Legacy and Praetor brands, the A-29 Super Tucano military trainer and light attack aircraft, the C-390 Millennium multi-mission transport platform, and the Ipanema agricultural aircraft.

Embraer’s commercial aviation segment focuses on regional airlines and air taxi operators, offering aircraft that seat between 70 and 150 passengers.